IMF Breaks With Tradition to Put a Woman in Charge

Posted on Jun 28, 2011

For the first time in history, a woman will lead the International Monetary Fund. French Finance Minister Christine Lagarde was tapped to replace Dominique Strauss-Kahn after he was accused of sexually assaulting a maid in New York.

Perhaps Lagarde was chosen to send a message since the IMF has gotten so much bad press over DSK’s alleged crimes against women, or maybe she’s simply the best available to bully the weaker countries.

Lagarde reportedly beat out Agustin Carstens, governor of the Bank of Mexico. —PZS

BBC:

The results are in: I am honoured and delighted that the board has entrusted me with the position of MD of the IMF!” Ms Lagarde said via Twitter minutes after the announcement.

In a statement, the IMF said: “The executive board of the International Monetary Fund today selected Christine Lagarde to serve as IMF managing director and madame chairman of the executive board for a five-year term starting on July 5, 2011.”